Malaysian firm launches fund for pre-IPO financing of tech firms

Malaysian investment firm Kenanga Investors Berhad has launched a new fund to back growth and late-stage ventures. The amount of the fund was not disclosed.

Named Frontier Fund, it will invest in equity securities of firms working on innovations and technological breakthroughs. These companies must have a long-term sustainable growth potential and must be on the cusp of an initial public offering (IPO).

Kenanga Investors Berhad executive director and CEO Ismitz Matthew De Alwis / Photo credit: Kenanga Investors Berhad

Players in the healthcare, fintech, cybersecurity, and space industries, as well as those that dabble in the metaverse, are the target beneficiaries of the new fund.

“From utilization of technologies to reduce carbon emissions, new medical discoveries to propel patient empowerment, to the democratization of financial services, the advent of frontier tech will allow for greater societal benefits and drive sustainable returns,” said Ismitz Matthew De Alwis, executive director and CEO of Kenanga Investors Berhad.

Frontier Fund has an initial offer period from October 27 to December 3, 2021 and is available to investors in both Malaysian ringgit and US dollars. The company said the fund feeds into the Ericsenz Frontier Fund of Ericsenz Capital, a Singapore-based private equity and venture capital firm.